Shares of Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, declined nearly 7% on Friday, as investors booked profits following nine consecutive sessions of gains.
The stock slipped as much as 6.6% to an intraday low of ₹208.75 on the BSE after rallying more than 23% over the preceding nine trading sessions.
Despite the correction, Groww shares remained approximately 8% below their 52-week high of ₹227, recorded in April 2026. The stock had touched a low of ₹112.02 in November 2025.
The shares gained 11% over the previous week, 10% in one month and 12% over three months, while the six-month return stood at approximately 0.5%.
Recent regulatory developments have influenced sentiment towards stockbroking companies.
The Securities and Exchange Board of India (SEBI) revised its Closing Auction Session (CAS) framework, including trading timings and settlement price calculations for derivatives contracts.
From Dec 7, 2026, index derivatives settlement prices on expiry days will use the volume-weighted average price (VWAP) methodology.
The changes could reduce expiry-day volatility, although Jefferies analysts cautioned that potential earnings benefits for brokers may remain limited.
Separately, reports that SEBI recommended reconsidering the 12.5% long-term capital gains tax on foreign portfolio investors also supported market sentiment.
Groww reported a 54% year-on-year increase in consolidated net profit to ₹725 crore for the September quarter of FY27, compared with ₹471 crore a year earlier.
Revenue climbed 44% to ₹1,541 crore from ₹1,071 crore in the corresponding quarter.
The company also reduced its dependence on equity derivatives, whose revenue contribution declined to 45% from approximately 57%.
Meanwhile, commodities contributed 6.2% of revenue, compared with 0.2% previously.
Groww's transacting customer base increased 27% to 2.4 crore, while customer assets grew 46% to ₹3.9 lakh crore.
The figures highlighted business expansion despite regulatory changes and volatility affecting the broking industry.
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